Ironsides Asset Advisors LLC Buys New Position in Huntington Ingalls Industries, Inc. $HII

Ironsides Asset Advisors LLC bought a new stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) in the 3rd quarter, HoldingsChannel reports. The firm bought 1,600 shares of the aerospace company’s stock, valued at approximately $461,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in shares of Huntington Ingalls Industries by 40.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company’s stock worth $42,000 after acquiring an additional 59 shares during the last quarter. SouthState Corp grew its position in Huntington Ingalls Industries by 310.0% in the second quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 93 shares in the last quarter. Savant Capital LLC bought a new position in Huntington Ingalls Industries in the second quarter valued at $352,000. Summit Wealth & Retirement Planning Inc. purchased a new stake in Huntington Ingalls Industries during the second quarter valued at about $230,000. Finally, Metis Global Partners LLC purchased a new stake in Huntington Ingalls Industries during the second quarter valued at about $223,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HII. Bank of America upgraded Huntington Ingalls Industries from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $300.00 to $400.00 in a report on Thursday, February 12th. The Goldman Sachs Group raised their price objective on Huntington Ingalls Industries from $384.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Citigroup boosted their target price on Huntington Ingalls Industries from $450.00 to $465.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $421.00 target price on shares of Huntington Ingalls Industries in a research note on Wednesday, February 11th. Finally, Melius Research upgraded shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $384.13.

Huntington Ingalls Industries Stock Up 2.2%

HII opened at $430.37 on Friday. Huntington Ingalls Industries, Inc. has a 12 month low of $177.42 and a 12 month high of $460.00. The company has a current ratio of 1.13, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $408.85 and its 200-day moving average price is $336.19. The company has a market cap of $16.89 billion, a P/E ratio of 28.00, a P/E/G ratio of 1.72 and a beta of 0.32.

Huntington Ingalls Industries (NYSE:HII) last issued its earnings results on Thursday, February 5th. The aerospace company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.32. Huntington Ingalls Industries had a return on equity of 12.28% and a net margin of 4.85%.The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the business posted $3.15 EPS. Huntington Ingalls Industries’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities analysts expect that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, February 27th. Huntington Ingalls Industries’s dividend payout ratio is 35.91%.

Insider Activity

In other news, EVP Eric D. Chewning sold 1,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $433.44, for a total value of $736,848.00. Following the transaction, the executive vice president owned 1,949 shares in the company, valued at approximately $844,774.56. This trade represents a 46.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.